When a Resource Is Said to Be Organized, This Means

question 17

Multiple Choice

When a resource is said to be organized, this means that the company:

• A) identified the resource as a resource.
• B) built a department to execute its operations using the resource.
• C) takes the resource for granted and assumes its value.
• D) has made it difficult to copy or imitate.
• E) has developed a method for making sure it gets the most out of its unique strengths.

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Definitions:

Intermediate Components

Components or parts used in the production process that are not final products but are incorporated into other goods.

Inventory Management Systems

Technologies and strategies used to oversee the ordering, storing, and use of a company’s inventory.

Production Schedules

Plans that outline the timing and sequence of manufacturing operations to meet production targets and manage resources efficiently.

EOQ Model

The Economic Order Quantity model is used to determine the optimal order size to minimize the total inventory costs.